Credit, which includes overdrafts and credit cards, gives you access to money when you need it. One of the many benefits of having credit is the ability to borrow money when you don't have immediate access to funds. This can be especially useful for unexpected expenses or emergencies and enables you to avoid withdrawing from your investments and incurring potential penalties or losses on future earnings.

Another benefit is the ability to spread out the cost of a large purchase over time by using a budget facility. This can make it easier to manage your finances by allowing you to pay off your debt over time. Additionally, when managed correctly, credit cards and overdrafts can help you build a good credit history, which can be beneficial in the future when you apply for loans or other financial products.

Managing credit is easier than ever with Discovery Bank

If you upgrade your account with us and add credit, our single credit facility makes managing your credit simple and convenient. With the single credit facility, you can get one interest rate and one credit agreement for both the overdraft on your transaction account and for your credit card account.

You can also choose how to allocate your credit between your transaction or credit card accounts in the banking app. For example, if you have more debit orders than expected, you can reallocate some of your credit facility to make room for your debit orders.

Learn more about the single credit facility, how Discovery Bank has reimagined credit and the rewards you can get, like paying less on your credit with Dynamic Interest Rates.

And with us, you also get features that are not available with traditional credit products, like the Vitality Money Financial Analyser, which makes it easy to track your spending and stay on top of your credit and finances.

Ready to upgrade to a credit card account?

See how easy it is:

Or follow the steps on how to add a Discovery Bank Credit Card Account or Discovery Bank Suite on our Info and tips page.

This article is meant only as information and should not be taken as financial advice. For tailored financial advice, please contact your financial adviser.